Stock market opened with a boost, buying in IT and auto stocks
Mumbai (Uttam Hindu News): The Indian stock market opened in the green in Tuesday’s trading session. Most of the market indices are trading in the green. At 9:23 am, Sensex opened 246 points or 0.35 per cent higher at 84,592 and Nifty opened 79 points or 0.31 per cent higher at 25,890.
Banking stocks are also seeing a rise in early trades. Nifty Bank was at 53,231, up 250 points or 0.48 per cent. The market trend remains positive. On the National Stock Exchange (NSE), 1,539 shares were in the green and 649 shares were in the red.
Along with largecap, midcap and smallcap shares remain bullish. The Nifty Midcap 100 index was up 54 points or 0.07 per cent at 60,207 and the Nifty Smallcap 100 index was at 19,279, up 99 points or 0.52 per cent.
Tech Mahindra, L&T, SBI, M&M, Bajaj Finserv, Power Grid, Wipro, Kotak Mahindra, Bharti Airtel, ICICI Bank and Tata Motors were the top gainers on the Sensex. Asian Paints, JSW Steel, HUL, Tata Steel, Maruti Suzuki, ITC, Sun Pharma and IndusInd Bank were the top losers.
There is a bullish trend in most of the markets of Asia. The markets of Tokyo, Shanghai, Hong Kong, Bangkok and Jakarta are trading in the green. Only the markets of Seoul and Taipei are in the red. American markets closed in the green on Monday.
Market experts say that fluctuations are being seen in global markets. Due to receiving the aid package, the Shanghai market has given a return of 20 percent in the last five trading sessions and the Hong Kong market has given a return of 19.45 percent in the last one month. Due to this, a large number of foreign investors are selling in the domestic markets and turning to China.
He further said that this will not cause any harm to the markets in the long term, because there is continuous investment in the market by domestic investors. This is a good time for investors to enter the market amid selling by foreign institutional investors (FIIs).
